McKinney’s sales tax payments for July, which reflect sales from May, totaled $5.05 million, up about 18% from what the city collected in July 2019, according to data from the state.
McKinney fared better than neighboring cities. Plano had a 17% decrease in May, and Frisco and Allen were down by about 7%.
This marks the second month in a row where the city has reported a year-over-year increase in sales tax revenue. McKinney’s sales tax payments for June were up by about 12%.
McKinney Chief Financial Officer Mark Holloway said at the time that the long-term impact of the coronavirus could still impact the city’s budget.
“We're cautiously optimistic about our numbers for the rest of the year,” Holloway said in a June interview. “But sales tax during these times can be volatile, so we’re going to remain very conservative with our projections.”
